Getting started with HootDex is fairly simple but there are a few things that you need to know before you get started.
HootDex is a decentralized digital asset swapping system, it was created on the Pecu Novus Blockchain Network with the purpose of promoting global inclusion, cost effectiveness, speed, self custody and security.
The system utilizes a liquidity pool structure which allows for the automated market maker system to function with no human involvement. The liquidity pools allow for liquidity to be created on a token basis for digital assets on HootDex.
HootDex is a decentralized extension of the MVault, the MVault was developed by MegaHoot Technologies with a dual purpose in mind. The overall mission was to give people anywhere in the world the ability to place various digital assets, including NFTs, in a digital safety deposit box securely as well as placing a digital asset in escrow for a transaction at zero cost.
The safety deposit box can be viewed as cold storage and in a simpler form it can be viewed similar to a safety deposit box at a physical bank but it being digital and in the holders control. Basically the digital asset is transferred to a members MVault account, from there they can choose to add or remove their digital assets from their safety deposit box to their live Pecu Novus wallet or place them in escrow for a transaction at zero cost.
Connecting my Wallet
The first step is simply going to www.hootdex.org and connecting your cryptocurrency wallet to HootDex. Initially the Pecu Novus Mobile Wallet will be integrated however other wallets will be integrated over time to provide ease of use. This promotes self custody of digital assets.
Once your wallet is connected you are able to swap for other digital assets on HootDex. Wallets can be disconnected at any time.
The MVault Connection
The MVault is a powerful tool for businesses of all sizes and individuals at all levels. It allows for the placing of digital assets in a digital safety deposit box as well as placing them in escrow for a transaction at zero cost.
First step is to set up your MVault account on HootDex and once that is done it is as simple as connecting your wallet that is authorized to connect to the MVault.
Protecting members is priority number one and that makes security and self custody priority number one, with that said although it is convenient to have a lot of connectivity with various wallets, it is imperative that we are able to protect members who use HootDex. So not all wallets will be allowed to connect to the MVault. Initially the Pecu Novus Mobile Wallet will be allowed because that holds proprietary encryption protocols preventing fraud or theft.
Once your MVault is set up and connected to HootDex then you are all set to enjoy secure swapping, escrows and placing digital assets in a digital safety deposit box.
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